There are five general brain types Among traders
People with Compulsive Brains tend to get stuck in a particular thought about the market. “It’s too high.” “It’s too manipulated.” “It’s too risky.” It’s too…” whatever. People with Compulsive Brains tend to operate entirely on their own terms and are generally not open to feedback or other options.
People with Impulsive Brains are the exact opposite. They are unpredictable and lack impulse control in trading and in daily life. Without much discipline, they trade in many instruments and end up being a LOSER.
People with Anxious Brains jumps too early or too late in the trade. They pay more attention to the obstacles to their own success (or the success of others) than to the ways that something might work. They don’t like to try new things.
The fourth type is the Depressed Brain. These people tend to feel victimized by the market. They have a NEGATIVE mentality, believing that they will never make money but still keeps trading thinking LUCK will change. They blame the RBI, ALGOS, the news, company management, or whatever for their trading troubles. This type of thinking rationalizes and justifies their pre-existing mood.
The fifth type is a combination of Compulsive and Impulsive. These folks tend to be compulsively impulsive, which may mean that they have an addictive relationship to the market and to trading. They overtrade because they are trading-to-trade, like a mouse pressing a lever to generate pleasure signals in their brains
FACT IS : – AFTER UNDERGOING PERIODS OF ANXIETY / DEPRESSION / IMPULSION / COMPULSION ( DUE TO LESS PROFIT & MORE LOSS PHASE) ; BRAIN BECOMES BALANCED / MATURE / COOL & COMPOSED FOR THE SUCCESSFUL TRADER WHO MANAGES CONSISTENT RETURNS WITH THE PERFECT COMBINATION OF TRADING SYSTEM / TRADING STRATEGY & TRADING PSYCHOLOGY.
SUCCESSFULTRADING IS THE COMBINATION OF ART & ANALYSIS.
Angshu said,no brain work once trading strategy is decided..perfectly correct. Just follow the WRITTEN trading plan for the day
Except for depressed brain, I exhibit every other trait
But now am a balanced brain, with intermittent Compulsive and Impulsive behaviors.. Trading requires so much patience that one has to be a saint to be successful in trading…
Thanks for sharing ur views.
LoL, I m all of the above !!
Superb sir, Thanks
A successful trader needs to be of self-Disciplined type, he/she need not use brain while trading. While deciding trading strategy, he/she should use brain. After deciding the strategy, he/she should stick to the strategy. While on the field(I mean live market), he/she should follow her/his pre-decided strategy strictly, without being diverted. This is what I learned, and practicing. Bramesh Ji can comment, how much I’m in right direction.
Very nice Keep doing the same..